Technical Analysis = CRAP
- Thread starter Frits
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6 years? that's dedication, lol!
Im guessing you've tried pretty much everything in that time. You must have a good grounding in TA, maybe someone will give you the missing ingredient to push you into profitability.
You never know.
So I take it you are still continuing to use TA to make trade decisions?
There are a few long lasting threads here at ET by traders that use TA profitably and some of those traders posted their brokerage statements for many many months or longer. They don't mention the details of their TA other than to confirm they use it although most say they do not use technical indicators. TA is much bigger than indicators.
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Note: None of those traders are vendors and they are unwilling to share their use of TA regardless if its small or large in reference to the ones that showed brokerage statements.
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Yet, I do remember many of the TA bashers not wanting to acknowledge those threads when you posted direct links to them. In addition, they couldn't deal with the fact that these were discretionary traders that doesn't use TA all by itself. Simply, the TA bashers had no way of testing the methods and would often get angry when there were no "computer codes", "no mechanical system" and "no automation trading" for sharing so that they can test the use of the TA by these traders...
They the TA bashers would then diminish the accomplishments of these profitable traders via saying it was luck.
The sad part is that many of the TA bashers use charts themselves or discuss on a few occasions the price action on their charts. Yet, they truly believe that their chart analysis is not TA along with believing their chart analysis has not impact on their trade decisions. They say they use charts for visual representation of the price action.
Yet, ask them to never look at a chart again if such is true and you'll see more excuses than Roger Clemens or Barry Bonds stories put together about steroid use.
Mark
*******
Note: None of those traders are vendors and they are unwilling to share their use of TA regardless if its small or large in reference to the ones that showed brokerage statements.
*******
Yet, I do remember many of the TA bashers not wanting to acknowledge those threads when you posted direct links to them. In addition, they couldn't deal with the fact that these were discretionary traders that doesn't use TA all by itself. Simply, the TA bashers had no way of testing the methods and would often get angry when there were no "computer codes", "no mechanical system" and "no automation trading" for sharing so that they can test the use of the TA by these traders...
They the TA bashers would then diminish the accomplishments of these profitable traders via saying it was luck.
The sad part is that many of the TA bashers use charts themselves or discuss on a few occasions the price action on their charts. Yet, they truly believe that their chart analysis is not TA along with believing their chart analysis has not impact on their trade decisions. They say they use charts for visual representation of the price action.
Yet, ask them to never look at a chart again if such is true and you'll see more excuses than Roger Clemens or Barry Bonds stories put together about steroid use.
Mark
Quote from wrbtrader:
There are a few long lasting threads here at ET by traders that use TA profitably and some of those traders posted their brokerage statements for many many months or longer. They don't mention the details of their TA other than to confirm they use it although most say they do not use technical indicators. TA is much bigger than indicators.
Yet, I do remember many of the TA bashers not wanting to acknowledge those threads when you posted direct links to them. In addition, they couldn't deal with the fact that these were discretionary traders that doesn't use TA all by itself.
Simply, the TA bashers had no way of testing the methods and would often get angry when there were no "computer codes", no mechanical system and no automation trading...
They would then diminish the accomplishments of these profitable traders via saying it was luck.
The sad part is that many of the TA bashers use charts themselves or discuss on a few occasions the price action on their charts. Yet, they truly believe that their chart analysis is not TA along with believing their chart analysis has not impact on their trade decisions.
Yet, ask them never to look at a chart again if such is true and you'll see more excuses than Roger Clemens or Barry Bonds stories put together.
Mark
We agree on some points.
I have no issue with discretionary TA, and there does appear to be some folks who can make it work by applying intuition and personal skill to the interpretation. In addition, TA is a great analysis and descriptive tool, not to mention subjective TA appears to at times be effective when mixed with other market tools.
My issue is with vendors like Proflogic who claim that their objective TA method, when used alone, produces strong results in the actual markets for years on end. Just take a look at the guys website ( archived on the web ) that shows uncanny accuracy again and again based on objective chart reading alone. These claims are false to the best of my knowledge of the market and how it works. He has stated repeatively that he will show me via the program, now we are waiting for september to be able to test the Price Sentinel chart labeling program.
Ridiculous sounding, but I maintain faith that I might be proven wrong. I would want nothing better! However, i doubt it.
surf
Another personal attack without basis.
I'll be happy to post your near "perfect" track record from your website- but wait, that wouldnt' be fair, so I may wait untill September to see the Price Physics program rule the freakign markets!
I actually agree with what you say although I've bumped heads with you in the past about TA when I was known as NihabaAshi (Baron gave me permission to change user names).
For example, I'm a firm believer that there's not one profitable trader out there that can prove that their use of TA is the sole exclusive reason behind their profits and I'm aware that I could be wrong because I haven't met every trader on this planet. My point is that those I know that are profitable while using TA...there's no illusion that their profitability has no other variables involved such as trade experience, market experience, discipline, money management, proper capitalization, adequate trading environment and equipment.
I'm also bother by traders that gives the impression that the variables above "does not matter", "has no impact" or "not important" to their trading results...regardless if its discretionary TA or objective TA being used.
TA is just one chapter in a book of a profitable trader that uses TA...just one chapter amongst many other chapters that has nothing to do with TA.
As for ProfLogic, I have seen a few message post by him here at ET in the past where he has mentioned (talked about) a few of those other variables I mention above being important to trading or agreeing with someone that mentioned such. Thus, I will assume that TA is not the only reason behind his profits regardless how he markets TA to others here or elsewhere in the past.
Mark
For example, I'm a firm believer that there's not one profitable trader out there that can prove that their use of TA is the sole exclusive reason behind their profits and I'm aware that I could be wrong because I haven't met every trader on this planet. My point is that those I know that are profitable while using TA...there's no illusion that their profitability has no other variables involved such as trade experience, market experience, discipline, money management, proper capitalization, adequate trading environment and equipment.
I'm also bother by traders that gives the impression that the variables above "does not matter", "has no impact" or "not important" to their trading results...regardless if its discretionary TA or objective TA being used.
TA is just one chapter in a book of a profitable trader that uses TA...just one chapter amongst many other chapters that has nothing to do with TA.
As for ProfLogic, I have seen a few message post by him here at ET in the past where he has mentioned (talked about) a few of those other variables I mention above being important to trading or agreeing with someone that mentioned such. Thus, I will assume that TA is not the only reason behind his profits regardless how he markets TA to others here or elsewhere in the past.
Mark
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